Celsius Network is a global P2P financial decentralized platform that allows connecting crypto-asset owners with borrowers. This allows cryptocurrency holders to earn interest on their assets in the form of coins or to receive cash loans.
The creator of the project, Alex Mashinsky, is the owner of more than 30 patents, including a patent for VoIP technology. In the past, he created several projects with a budget of several billion US dollars, including Arbinet (IPO 2004), TransitWireless and GroundLink. Alex has been developing in the crypto sector since 2013 and has acted as an investor and advisor in several companies related to blockchain technology, including Sirin Labs, MicroMoney and Ties Network.
The aim of the project is to create a wallet that allows users to receive fiat loans, leaving cryptocurrency as a security. Additionally, the project will allow receiving interest through the provision of loans to other users. Users can receive loans secured by the cryptocurrency as collateral. The goal of the project is to give each cryptocurrency holder who uses the Celsius wallet the opportunity to receive funds without having to sell their crypto assets. The ability to get a dollar loan secured by a cryptocurrency will be available as soon as CEL (Celsius Degree Token). In the future, in the Celsius system, the cryptocurrency in the Celsius Wallet account will be available for use as a means of issuing loans to other users of the system. By issuing a loan to users of the site will be able to profit in CEL. The maximum income will be 9% of the amount of each transaction.
Celsius Degree Token (CEL)
Immediately after the completion of the token generation, users will have the opportunity to receive loans secured by the Celsius Degree Token (CEL) cryptocurrency. In the future, users who have placed their cryptocurrency assets in a Celsius wallet will be able to receive CEL as income for providing funds for a loan within the Celsius platform. CEL tokens are designed in accordance with the ERC20 standard to be used as a core value within the Celsius Network platform, opening up the possibility of generating revenue for each user.